Shares at 6-month high on diversified shares, retail buying

19 April 2013 03:41 am - 0 - {{hitsCtrl.values.hits}}

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Shares hit a sixmonth high yesterday, as investors bought diversified shares and retail investors came back after the Central Bank said there would be room for further monetary policy easing.

The Central Bank on Tuesday kept key monetary policy rates unchanged for a fourth straight month, as expected, but left the door open for easing later as inflation is expected to slow further.

The main stock index gained 0.4 percent, or 23.30 points, to 5,891.83, its highest close since October. 2, 2012.

“Retail investors and margin traders are active as they see at least stabilisation of interest rates as a positive sign and (the central bank) will not increase the rates in the short term,” said a stockbroker, who asked not to be named.

Expectations of falling interest rates have boosted sentiment, after Treasury Secretary P.B. Jayasundera last week said Sri Lanka’s interest rates should fall in May-June as the borrowing needs of loss-making state energy companies recede.

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Shares at 6-month high on diversified shares, retail buying

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